William T. Young, 85, Owner And Breeder of Racehorses

Published: January 14, 2004

LEXINGTON, Ky., Jan. 13—
William T. Young, a prominent thoroughbred breeder and owner who won the 1996 Kentucky Derby with Grindstone, died on Monday in Gulf Stream, Fla. He was 85.

His death was reported by Kerr Brothers Funeral Home in Lexington.

Young, who operated Overbrook Farm in Lexington after building his fortune selling peanut butter, sent many of his horses to the Hall of Fame trainer D. Wayne Lukas.

Young received an Eclipse Award in 1994 as the nation's top breeder, and in 1999 was chosen as breeder of the year by the Thoroughbred Owners and Breeders Association.

Young also owned the 1996 Belmont Stakes winner, Editor's Note. He was co-owner of the 1994 Preakness and Belmont winner, Tabasco Cat, as well as the Breeders' Cup winners Cat Thief, Flanders and Boston Harbor.

In 1946, after moving to Lexington from Philadelphia, Young founded W. T. Young Foods, which created Big Top Peanut Butter. The company was sold to Procter & Gamble in 1955, and the product was renamed Jif Peanut Butter. He headed the division for P.&G. until 1957, when he founded storage and related companies that also handled trucking and distribution of frozen foods.

And in 1957, Young was appointed to the board of the cola maker Royal Crown, which at the time owned the Arby's fast-food chain. He was chairman of Royal Crown from 1966 to 1984.

At one time, Young was the largest single stockholder of the Louisville-based health care company Humana Inc., and he served on the board of Kentucky Fried Chicken when it was headed by John Y. Brown Jr. in the 1960's and early 70's. When Brown was governor of Kentucky in the early 1980's, he chose Young as chairman of the executive cabinet.

Young's wife, Lucy Hilton Maddox Young, died in 2002. He is survived by his son, Bill Jr., and his daughter, Lucy Young Boutin Hamilton, both of whom are co-owners of Overbrook, The Daily Racing Form reported.

Perhaps Young's greatest success came as a breeder with Storm Cat, who was not a champion on the track but became one of North America's leading sires with stud fees up to $500,000.